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Further details have emerged on the (re)insurance programme for Transocean's Deepwater Horizon rig in the Gulf of Mexico (GoM), which is the largest offshore energy loss of 2010 to date with an insured value of $560mn.

The cover, widely spread across the London market, is led by QBE's O'Farrell Syndicate 1036.

Inside FAC understands that the operational deductible plus a captive insurer retention totals $125mn, which would not apply were the rig to become an actual or constructive total loss...

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